To create an account on Tola, you will either receive a link for our team or press Get started now on our website.
You can get started with by creating an account by:
Logging in with your Google account
Logging in with your QuickBooks Intuit account
Logging in with your Xero account
Creating an account by manually creating your account using your e-mail (you will receive the link in your inbox to continue the sign up process.
When setting up your Tola account, you will get access to the full platform (to pay bills and get paid), by adding your phone number (used for login), sharing basic information about your business and connecting your business bank account.
Adding your business information
To complete your account set up, you will need to provide a few details about your company and the company owners. This process is called KYB (Know Your Business)
In regulated financial institutions, businesses must adhere to strict regulations to prevent fraud, money laundering, and financial crime.
Know Your Business (KYB) is a process that allows us to verify the legitimacy of our business customers and ensures compliance with regulatory standards. By conducting KYB checks, Tola protects itself, its customers, and the broader financial ecosystem from illicit and illegal behaviour.
Information required during onboarding will consist of:
Your Business Legal Name
Year and State of Incorporation
EIN number
Your Business address
Your Company Officers & Owners Information
You will find this form in the app once you set up your Tola account, it will take about 5 minutes to complete it, if you have your information on hand. You are also able to always come back to Tola and finish your application.
Once completed, you will receive an e-mail that your application is completed.
Please note, that in some cases, you will be notified by e-mail or within the Tola dashboard that we might require additional information about your business, which may include copy of of your ID, driver's licence or business information (such as articles of incorporation).
Connecting your business bank account
Connecting Tola to your business bank account allows you to pay bills and receive payments on your behalf from and to your bank account.
You can securely connect your business bank account in seconds. Tola support majority of US banks today.
You will be able to connect your business bank account by going to Settings - Bank accounts and will be able to log in to your business using Plaid to authorise payments.
This will safely authorize Tola access to perform payment operations on your behalf.
Please note, that in some cases, bank connections might time out and you will need reconnect them, which we will inform you about on e-mail.
Tola does not support connecting personal bank accounts to process payments on behalf of your business.